Nyxoah SA (NASDAQ:NYXH) Sees Significant Decrease in Short Interest

Key Points

• Nyxoah’s short interest fell 48.5% to 244,313 shares as of August 31, representing about 0.8% of shares outstanding and 2.3 days to cover.
• The stock traded near $1.54, close to its 52-week low of $1.26, while the company reported a quarterly loss of $0.67 per share that missed analysts’ expectations despite revenue slightly exceeding forecasts.
• Analyst sentiment remained mixed, with a consensus “Hold” rating and an average price target of $4.26; Piper Sandler maintained an overweight rating but cut its target to $6.00.

Nyxoah SA (NASDAQ:NYXH - Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 244,313 shares, a decline of 48.5% from the August 15th total of 474,703 shares. Based on an average daily volume of 108,052 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.8% of the company's stock are short sold.

Nyxoah Price Performance

Nyxoah stock traded down $0.06 during midday trading on Tuesday, hitting $1.54. 64,298 shares of the company were exchanged, compared to its average volume of 550,327. Nyxoah has a fifty-two week low of $1.26 and a fifty-two week high of $6.87. The business has a fifty day simple moving average of $1.56 and a two-hundred day simple moving average of $2.37. The company has a quick ratio of 2.31, a current ratio of 2.38 and a debt-to-equity ratio of 0.44.

Nyxoah (NASDAQ:NYXH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.20). The company had revenue of $8.76 million during the quarter, compared to analysts' expectations of $8.64 million. Nyxoah had a negative return on equity of 178.90% and a negative net margin of 443.16%. Research analysts forecast that Nyxoah will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen lowered Nyxoah from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Piper Sandler restated an "overweight" rating and set a $6.00 target price (down from $7.00) on shares of Nyxoah in a research note on Thursday, August 6th. Oppenheimer set a $4.00 target price on Nyxoah in a research report on Thursday, August 6th. Robert W. Baird set a $2.31 price target on Nyxoah in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Nyxoah in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $4.26.

Institutional Trading of Nyxoah

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NYXH. Readystate Asset Management LP purchased a new position in Nyxoah in the second quarter valued at $351,000. Integrated Wealth Concepts LLC acquired a new position in shares of Nyxoah in the second quarter worth about $169,000. Finally, IFP Advisors Inc boosted its stake in shares of Nyxoah by 35.6% during the 2nd quarter. IFP Advisors Inc now owns 118,426 shares of the company's stock worth $200,000 after acquiring an additional 31,061 shares in the last quarter.

Nyxoah Company Profile

Nyxoah SA, headquartered in Mont-Saint-Guibert, Belgium, is a medical technology company focused on neuromodulation therapies for sleep‐disordered breathing. Established in 2018, the company's primary offering is the Genio® system, a minimally invasive bilateral hypoglossal nerve stimulator designed to treat moderate to severe obstructive sleep apnea (OSA). By electrically stimulating the genioglossus muscle, the device helps maintain airway patency during sleep, reducing apnea events and improving overall sleep quality.

The Genio system comprises a small, implantable stimulator positioned submentally and an external activation unit worn by the patient.

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